The metaverse may be one of the biggest stories of 2022.
Thrust into the spotlight by Mark Zuckerberg, the metaverse “is a sci-fi concept whereby humans put on some sort of headset or smart glasses that allows them to live, work and play in a virtual world much like the one depicted in the ‘Ready Player One’ movie,” says CNBC.
While it may take some time for the metaverse to go mainstream, analysts say the market could be worth billions. Bloomberg Intelligence says it could reach $800 billion by 2024.
So, where should you invest?
Meta Platforms (FB)
Meta Platforms – formerly Facebook – is investing $10 billion in its development.
According to the company, “The metaverse will feel like a hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world. It will let you share immersive experiences with other people even when you can’t be together — and do things together you couldn’t do in the physical world. It’s the next evolution in a long line of social technologies, and it’s ushering in a new chapter for our company.”
Roblox Corp. (RBLX)
Roblox already has a social metaverse, with a mission of building a human co-experience platform that enables billions of users to come together to play, learn, communicate, explore and expand their friendships, according to Roblox.
And so far, it’s been very profitable. In its third quarter, Roblox Corp. said revenue increased 102% over Q3 2020 to $509.3 million, bookings increased 28% over Q3 2020 to $637.8 million, average Daily Active Users (DAUs) were 47.3 million, an increase of 31% year over year.
